Make Kitco Your Homepage

U.S. Orders Of Durable Goods Rise By 1% During June

Kitco News

(Kitco News) - Orders for durable goods in the U.S. rose by 1% to $251.9 billion during June, the Commerce Department reported Thursday. This fell short of forecasts.

Consensus expectations compiled by various news organizations called for durables to be up by somewhere between 3.2% and 3.7%.

Excluding transportation, new orders increased 0.4%, while new orders minus defense rose 1.5%. Transportation equipment led the overall increase, rising by 2.2%, the government said.

Shipments of manufactured durable goods in June increased by 1.7% to $251.6 billion.

The government’s durables report covers items with an expected life of at least three years, such as kitchen appliances, computers, furniture, autos and airplanes.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.